The London Agreement aims to reduce translation costs required for validating European patents granted under the European Patent Convention (EPC). The EPC grants European patents for the member states of the EPC through a centralized administrative procedure. For validation of the granted European patents in each member state, entire translation of the patent is required. By reducing the compulsion to provide patent translations, the London Agreement is expected to reduce financial burden upon applicants seeking to protect their inventions in the member countries of the EPC. This article discusses effects on the European patent system and benefits for the Indian patent applicants on account of the implementation of the London Agreement (the Agreement on the application of Article 65 of the Convention on the grant of European patents).